Saudi National Bank
Saudi National Bank is both a new player on the regional scene and a well-worn veteran. SNB is the result of a recent merger between National Commercial Bank and Samba Financial Group, or Saudi Arabia’s biggest financial institution and a genuine regional powerhouse.
National Commercial Bank dates back to 1954. Samba, meanwhile, is so enmeshed in the local finance scene that it played a top role in Saudi Aramco’s $26 billion initial public offering in 2019. Fusing these two institutions together creates a one-stop-shop for Saudi Arabian companies’ investment and corporate needs.
It also immediately accorded SNB a central role as a catalyst for Saudi Arabia’s Vision 2030 economic transformation strategy. SNB’s own strategy is closely aligned with Riyadh’s development scheme. This gives SNB a rarefied and fortuitous position in the Kingdom to play a role in landmark deals and mega projects.
SNB had to tackle the pandemic in 2020, when GDP tumbled almost as fast as oil prices in the region. But corporate clients probably have few qualms with how SNB rose to the occasion, and helped companies across sectors deal with a spectacularly uncertain environment.
SNB